Altcoins soar, while Bitcoin and Ethereum price stall near key levels
27 May 2021 #Ethereum
Altcoins moved higher, while a lack of buy volume prevented Bitcoin and Ether price from breaking out after the completion of a bullish inverse head and shoulders pattern. On Wednesday, the bullish momentum that had propelled Bitcoin (BTC) and altcoins into a relief rally was somewhat subdued, as traders remain unsure of what may happen next.
After an early morning attempt by Bitcoin bulls to drive BTC’s price above $40,000 was met with stiff resistance, the digital asset lost momentum and slumped back to the $38,000 support level.
Despite the continued struggle, a few positive signs such as a decline in BTC exchange deposits and an uptrend in addresses accumulating Bitcoin suggest that bears have stopped selling and the worst of the downturn may have passed. Earlier in the day, Ether (ETH) also rallied close to the $3,000 level, but the pullback in BTC price saw the top altcoin fall below $2,800.
Polygon leads the altcoin charge
While a majority of the cryptocurrencies are well below recently established highs, Polygon’s (MATIC) price bucked the trend by seeking out a clear V-shaped recovery. The altcoin rallied higher today as the project announced the launch of its SDK stack that will allow developers to easily deploy their own Ethereum-connected blockchains. Since Tuesday, MATIC has rallied 50% from a low of $1.51 to an intraday high at $2.44 on Wednesday. According to data from Cointelegraph Markets Pro, market conditions for MATIC have been favorable for some time.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. As seen in the chart above, the VORTECS™ Score for MATIC has been in the green zone for most of the past week, and it registered a high of 94 several times on Tuesday, around seven hours before the price increased 50% over the next day.
Other notable altcoin performances include an 89% gain for Skale Network (SKL) and a 67% rally from Enjin Coin (ENJ). Origin Protocol also gained 53%. The overall cryptocurrency market capitalization now stands at $1.7 trillion, and Bitcoin’s dominance rate is 42.5%.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | Volume 24h | |
| 1 |  BTC |
Bitcoin predictions | 83.6% | 24 | $48 023.28 | -0.71% | 3.44% | $903 705 648 774 | $30 868 405 829 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 71.6% | 52 | $3 563.80 | -1.89% | 4.12% | $418 950 530 113 | $18 493 669 977 | |
| 3 |  ADA |
Cardano predictions | 66% | 64 | $2.42 | -2.23% | -3.43% | $77 683 489 177 | $3 095 901 217 | |
| 4 |  BNB |
Binance Coin predictions | 68.4% | 70 | $421.22 | -2.55% | -0.83% | $70 821 892 729 | $1 657 577 581 | |
| 5 |  USDT |
Tether predictions | 96% | 1 | $1.000499 | 0.02% | 0.05% | $68 288 037 795 | $74 172 515 331 | |
| 6 |  XRP |
XRP predictions | 71.2% | 56 | $1.093567 | -2.51% | -3.05% | $50 984 520 461 | $3 018 193 479 | |
| 7 |  SOL |
Solana predictions | 57.2% | 89 | $146.88 | -7.34% | -21.00% | $43 597 219 268 | $3 263 512 936 | |
| 8 |  DOT |
Polkadot predictions | 63.2% | 83 | $36.36 | 1.92% | 15.42% | $35 909 826 746 | $2 318 625 572 | |
| 9 |  DOGE |
Dogecoin predictions | 66.4% | 65 | $0.254974 | 3.69% | 0.76% | $33 480 789 211 | $1 873 594 606 | |
| 10 |  USDC |
USD Coin predictions | 94.8% | 1 | $1.000186 | 0.02% | 0.01% | $29 230 519 112 | $2 845 039 489 | |
| 11 |  UNI |
UniSwap predictions | 68.8% | 56 | $25.82 | -4.67% | 9.72% | $15 791 177 382 | $595 594 004 | |
| 12 |  LUNA |
Terra predictions | 68% | 67 | $36.20 | -0.80% | 12.70% | $14 549 248 511 | $1 555 371 086 | |
| 13 |  AVAX |
Avalanche predictions | 69.2% | 69 | $64.76 | 6.83% | 48.17% | $14 265 392 957 | $2 603 032 868 | |
| 14 |  LINK |
Chainlink predictions | 74% | 56 | $29.85 | -5.29% | 4.13% | $13 491 251 604 | $1 523 058 445 | |
| 15 |  BUSD |
Binance USD predictions | 96% | 1 | $1.000197 | 0.01% | 0.02% | $12 747 342 580 | $6 385 206 639 |
